How to License Your Million Dollar Idea by Harvey Reese
How to License Your Million Dollar Idea, Second Edition, Harvey Reese
LoTempio Law Blog Book Review
About the book
This book provides potential inventors information to take a product from the idea stage to a shelf on the store. The author Harvey Reese reveals his system for coming up with new ideas. He tells about his experiences taking a product through the licensing process.
Further, he proposes a method of how to approach and present those ideas to professionals in the industry that can manufacture, market and distribute a product. He gives an overview on the patenting process and a hypothetical presentation of the product and negotiation of a bare-bones licensing agreement.
How to License Your Million Dollar Idea, Second Edition also features an expanded appendix of sample patent forms, licensing agreements, disclosure statements, publications, contact information, and more.
My review of the book
In my role as patent attorney, inventors come to my office with new ideas all the time. My job is to protect their idea but also represent them in the best possible way. Many inventors don’t know how to present their patented product to a company for licensing agreement. I believe this book gives them a rudimentary understanding of the entire process.
I have recommended this book to many clients to educate them of the pitfalls of selling a product that they have invented. Moreover, I believe this book answers a lot of basic questions about the pitfalls of taking a product from the idea stage to on a shelf at the store.
In addition, I enjoyed the common man approach in which the book was written. The book uses anecdotal story based examples to describe the invention process.
About the Author
Harvey Reese is a businessman and inventor. Based upon his success in licensing ideas he has written books that inventors can use to profit from their ideas.
The two latest are The 12 Amazing Secrets of Millionaire Inventors, which shows the inventor all of his options when he’s struck with a great idea, and How to License Your Million Dollar Idea which is designed to help the inventor who has already decided on the licensing option. He is a frequent guest on local radio talk shows where he answers callers who have questions about their product ideas and what to do next. He is also an author of many articles for Inventor’s Digest.